HB 353
FISCAL NOTE
Fiscal Review Committee
Tennessee General Assembly
January 25, 2025
Fiscal Analyst: Elizabeth Bransford | Email: elizabeth.bransford@capitol.tn.gov | Phone: 615-741-2564
HB 353
SUMMARY OF BILL: Reduces, from 60 to 45 days, the period following the end of each
calendar year the Commissioner of the Department of Financial Institutions (DFI) must submit an
annual report to the Governor.
FISCAL IMPACT:
NOT SIGNIFICANT
Assumptions:
• Pursuant to Tenn. Code Ann. § 45-1-119(a), the Commissioner of DFI is required to
submit an annual report to the governor detailing:
o The rules of the department adopted or revised since the prior report;
o Legislation recommendations;
o The status of assets and liabilities in the Commissioner’s possession;
o A summary of all changes since the prior report by reason of opening new state
banks, mergers and conversions, changes in capital, etc.; and
o A combined statement of condition of all state banks.
• Reducing the length of time for the Commissioner to submit the annual report will not
significantly impact DFI’s operations. Therefore, any fiscal impact is estimated to be not
significant.
IMPACT TO COMMERCE:
NOT SIGNIFICANT
Assumption:
• There will not be a significant impact to commerce or jobs in this state.
HB 353 2
CERTIFICATION:
The information contained herein is true and correct to the best of my knowledge.
Bojan Savic, Executive Director